CSHB 290(CRA): "An Act creating the endow Alaska grant program in the Department of Commerce, Community, and Economic Development to encourage community development."
00 CS FOR HOUSE BILL NO. 290(CRA) 01 "An Act creating the endow Alaska grant program in the Department of Commerce, 02 Community, and Economic Development to encourage community development." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 44.33 is amended by adding new sections to read: 05 Article 2A. Endow Alaska Grant Program. 06 Sec. 44.33.150. Grants for community development. The endow Alaska 07 grant program is established in the Department of Commerce, Community, and 08 Economic Development. To encourage community development in the state, the 09 department may identify a statewide lead philanthropic entity that meets the 10 requirements of AS 44.33.160 and grant the entity state funds that the entity may 11 annually award to a community foundation or community foundation affiliate as 12 endow Alaska grants to increase endowed funds, the purpose of which would be 13 unrestricted. 14 Sec. 44.33.160. Eligibility requirements for lead philanthropic entities and
01 grant recipients. (a) To be eligible under AS 44.33.150, a lead philanthropic entity 02 must be 03 (1) a nonprofit entity exempt from federal income taxation under 26 04 U.S.C. 501(c)(3) (Internal Revenue Code); 05 (2) a statewide organization whose principal function is to make grants 06 in the state; and 07 (3) a community foundation. 08 (b) Only a community foundation or a community foundation affiliate is 09 eligible for a grant under AS 44.33.150 - 44.33.190. 10 Sec. 44.33.170. Ranking of applications and awarding of grants. (a) When 11 ranking applications for grants, the board of the lead philanthropic entity shall 12 consider relevant factors including 13 (1) the need for financial assistance; 14 (2) the potential for future philanthropic activity in the community or 15 geographic area that will benefit from the grant; 16 (3) the percentage of matching funding proposed; 17 (4) the opportunity to establish new community foundations or 18 community foundation affiliates; and 19 (5) the geographic diversity of the communities or geographic areas 20 that will benefit from the grants. 21 (b) The board of the lead philanthropic entity may award endow Alaska grants 22 to a community foundation or a community foundation affiliate that 23 (1) provides all information the board requires, including evidence of 24 the existence of the community foundation or the community foundation affiliate; 25 (2) demonstrates, in a manner approved by the board, the ability to 26 match state funding at a ratio of at least one-to-one; and 27 (3) provides a spending policy for distributing grant money to 28 organizations within the community or geographic area as defined by the community 29 foundation or the community foundation affiliate. 30 Sec. 44.33.180. Limitations on grant amounts, awards, and administrative 31 costs. (a) Endow Alaska grants are limited as follows:
01 (1) grants may not exceed $25,000 annually for each foundation or 02 community foundation affiliate unless the grant will be used to benefit multiple 03 boroughs or a region; 04 (2) only five percent of the grant funds received by the lead 05 philanthropic entity may be used for administrative purposes by the lead philanthropic 06 entity. 07 Sec. 44.33.190. Definitions. In AS 44.33.150 - 44.33.190, 08 (1) "community foundation" means a tax-exempt, nonprofit, 09 autonomous, publicly supported, philanthropic institution in the state composed 10 primarily of permanent funds established by many separate donors for the long-term 11 diverse, charitable benefit of the residents of a defined geographic area; 12 (2) "community foundation affiliate" means a group of five or more 13 community leaders or advocates organized for the purpose of increasing philanthropic 14 activity in an identified community or geographic area in the state who have 15 established or intend to establish a community foundation affiliate endowment within 16 an existing community foundation; 17 (3) "department" means the Department of Commerce, Community, 18 and Economic Development; 19 (4) "lead philanthropic entity" means an entity identified by the 20 department under AS 44.33.150 that meets the requirements of AS 44.33.160.